Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Schieder, a producer of furniture, has announced that it is to cut 330 jobs following the firm’s filing for insolvency in June 2007. The job cuts will affect the firm’s sales and services departments, and the redundancies will be implemented by September 2007. 249 jobs will be lost at the firm’s headquarters in Schieder-Schwalenberg, whilst a further 81 jobs will be lost at locations across Germany. The firm has taken steps to set up a transfer agency to aid in the job search of employees affected by the measures. Schieder employs approximately 1300 in Germany.
September 20th 2007
The German trade union IG Metall have announced that an agreement has been reached between the union and management at Schieder. The agreement has led to a reduction in the projected job losses, and 128 of the 380 jobs at the Schieder-Schwalenberg site will now be lost. It is expected that the job losses will now be implemented from October 2007. IG Metall estimate that there will be approximately 100 direct dismissals, with the remaining job losses coming about as a result of voluntary redundancies or early retirement. Also, Schieder have announced that 89 jobs, rather than 81, will now be lost at the firm’s other sites in Germany. Schieder’s administrator have also announced that talks are under way to sell Schieder.
Eurofound (2007), Schieder, Internal restructuring in Germany, factsheet number 65722, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65722.